Trex Company, Inc. (NYSE:TREX) Shares Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. raised its holdings in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 87.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,916,134 shares of the construction company's stock after purchasing an additional 893,675 shares during the period. Point72 Asset Management L.P. owned 1.79% of Trex worth $132,271,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TREX. Mather Group LLC. boosted its stake in Trex by 73.5% in the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company's stock valued at $31,000 after acquiring an additional 191 shares in the last quarter. Avior Wealth Management LLC grew its stake in Trex by 1,212.8% during the 4th quarter. Avior Wealth Management LLC now owns 512 shares of the construction company's stock worth $35,000 after buying an additional 473 shares during the last quarter. Huntington National Bank raised its stake in Trex by 227.2% in the fourth quarter. Huntington National Bank now owns 566 shares of the construction company's stock valued at $39,000 after buying an additional 393 shares during the last quarter. V Square Quantitative Management LLC boosted its holdings in Trex by 47.4% in the fourth quarter. V Square Quantitative Management LLC now owns 628 shares of the construction company's stock worth $43,000 after acquiring an additional 202 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Trex by 33.4% during the fourth quarter. UMB Bank n.a. now owns 870 shares of the construction company's stock worth $60,000 after acquiring an additional 218 shares during the last quarter. Hedge funds and other institutional investors own 95.96% of the company's stock.

Trex Stock Up 0.3%

Shares of NYSE TREX traded up $0.18 during midday trading on Tuesday, hitting $60.77. The stock had a trading volume of 201,557 shares, compared to its average volume of 1,573,826. The stock has a 50 day simple moving average of $57.55 and a 200-day simple moving average of $65.46. The company has a market capitalization of $6.52 billion, a PE ratio of 27.75, a P/E/G ratio of 2.51 and a beta of 1.62. Trex Company, Inc. has a 1 year low of $49.01 and a 1 year high of $88.84.

Trex (NYSE:TREX - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The construction company reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.02. The company had revenue of $339.99 million for the quarter, compared to analyst estimates of $329.11 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. The firm's revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.82 EPS. As a group, analysts expect that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on TREX. BMO Capital Markets upgraded shares of Trex from a "market perform" rating to an "outperform" rating and set a $72.00 target price for the company in a research note on Thursday, April 17th. Barclays dropped their price objective on shares of Trex from $67.00 to $54.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. UBS Group cut their target price on Trex from $74.00 to $72.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Deutsche Bank Aktiengesellschaft assumed coverage on Trex in a research note on Tuesday, April 1st. They set a "buy" rating and a $85.00 price target on the stock. Finally, Citigroup cut their price objective on Trex from $78.00 to $60.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $76.65.

Insider Activity

In other news, SVP Jacob T. Rudolph sold 1,500 shares of the company's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $60.27, for a total value of $90,405.00. Following the transaction, the senior vice president now owns 27,527 shares of the company's stock, valued at $1,659,052.29. This represents a 5.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Melkeya Mcduffie sold 1,420 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $61.88, for a total value of $87,869.60. Following the transaction, the director now owns 1,705 shares of the company's stock, valued at approximately $105,505.40. This represents a 45.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,286 shares of company stock worth $323,003 over the last ninety days. Corporate insiders own 0.71% of the company's stock.

Trex Company Profile

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.